More Hydrogen-Powered Cars Are Coming; Can They Be Fueled

- NetworkNewsWire Editorial Coverage

NEW YORK, March 30, 2021 /PRNewswire/ -- Cars and trucks powered by hydrogen, the most abundant resource in the universe, are on the road now with more planned and in production. Hydrogen power may well be the solution to truly weaning from fossil fuels, turning the tide on CO2 emissions and ushering in a new era of emission-free transportation — but only if vehicles running on the power can find fuel. Even with major automakers rolling out new hydrogen vehicles and a wealth of hydrogen in the universe, there's a serious shortage of hydrogen fueling stations. With less than 100 public hydrogen stations in the USA, hydrogen fueling stations are the missing infrastructure critical to propel and sustain hydrogen vehicle growth. Using patented next-generation technology, Clean Power Capital Corp. (OTCPK: MOTNF) (CSE: MOVE) (FWB: 2K6) (Profile) intends to rectify the paucity of hydrogen fueling stations and become a powerful factor as ever more hydrogen vehicles take to the road. Clean Power Capital owns 94.5% of PowerTap Hydrogen Fueling Corp., which builds, installs and supports low-cost, onsite hydrogen fueling and dispensing units. PowerTap's 2nd Generation technology has 14 installations already in place in the USA (which are not owned by PowerTap Hydrogen Fueling Corp.). The company inked a deal in January with the Andretti Group to install PowerTap's 3rd Generation modular hydrogen fueling stations starting in California this year. This is just one of many partnerships planned with major fueling networks to install hydrogen fuel technology at existing locations across the nation, and the rollout can't come too soon. Toyota Motor Corporation (NYSE: TM) recently revealed it has developed and plans on selling a product this year that packages a fuel cell system into a compact module. Integrating the main components of a fuel cell makes it easily adaptable for rapid development and manufacture of a variety fuel cell products. Credited for creating the first commercially market for hydrogen fuel cell technology, Plug Power Inc. (NASDAQ: PLUG) is building the hydrogen economy as a leading provider of comprehensive hydrogen fuel-cell turnkey solutions. ITM Power Plc (OTCPK: ITMPF) manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat, and chemicals. And Nel ASA (OTCPK: NLLSF) is a global hydrogen company dedicated to delivering optimal solutions to produce, store and distribute hydrogen from renewable energy.

• Shift to clean, safe, abundant, sustainable and cost-effective hydrogen power is underway.
• Hydrogen-powered vehicles already on the road with more passenger cars and trucks as well as long-haul trucks planned.
• Clean Power subsidiary PowerTap now owns 14 hydrogen fueling stations; intends to build largest hydrogen fueling station network in North America.
• PowerTap's patented technology, unique business model give it competitive advantages.

Click here to view the custom infographic of the Clean Power editorial.

Why Hydrogen?

Produced from diverse domestic resources, hydrogen is the most abundant chemical substance in the universe and holds strong promise for growth in both the transportation and energy sectors. The abundance of hydrogen and the relative simplicity of use are propelling a surge of new hydrogen vehicles, which use fuel cells to create electric power.

Electric power is first generated in a fuel cell when hydrogen and air are pushed into opposite sides of a fuel cell and the two chemically react to produce electricity, water vapor and small amounts of heat. Electricity then flows from the fuel cell to power the vehicle's electric motor. Hydrogen fuel cells are much cleaner and more efficient than traditional internal combustion engines and fossil fuel power plants. 

Most power plants achieve about 35% efficiency, and internal combustion engines operate around 25% efficiency. Comparatively, stationary fuel cells when used in a combined heat and power system, can reach efficiency levels of greater than 80%. Amazingly, a fuel cell coupled with an electric motor is two to three times more efficient than an internal combustion engine running on gasoline. When hydrogen is used to power a fuel cell, the only byproducts are water and heat - zero pollutants or greenhouse gases are produced.

Powerful Combo

Clean Power Capital Corp. (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF) and its subsidiary PowerTap is leveraging tens of millions of dollars of historical invested capital in the PowerTap technology, a portfolio of patented technologies and partnerships with major fueling networks to meet coming demand as hydrogen vehicles hit the highways. Recognizing the value of the technology and the massive opportunity, Clean Power took a 94.5% equity stake in PowerTap in the last year. PowerTap's small-footprint SMR technology produces blue hydrogen onsite at existing filling stations as opposed to typical off-site production then delivers to a filling station. Most hydrogen fueling stations buy offsite hydrogen and store hydrogen at the station level  at much higher costs, and Clean Power is convinced that PowerTap's unique model is exponentially more scalable and cost effective. 

PowerTap shares revenues with individual fueling stations as well as partner major fueling networks in return for hosting PowerTap Hydrogen fueling stations at their locations. By partnering with and incentivizing major fueling networks to install hydrogen fuel technology at existing locations, the unique PowerTap business model simplifies and rapidly accelerates deployment.

Clean Power's investment allowed PowerTap to ramp up efforts to expand the hydrogen fueling station network in stages, starting with engineering, design and further development of PowerTap's third-generation product, as well as licensing & permitting and site preparation. The design of the PowerTap Gen3 hydrogen fueling units station is less than half the size of the closest competitor, easy to relocate if needed and able to quickly adopt other new hydrogen production technologies since PowerTap can upgrade its technology onsite.

Clean Power's investment is already producing results. In addition, the company just announced an update on the third-generation PowerTap (Gen3) hydrogen fueling units, noting in part that "PowerTap Gen3's advanced CCS [CO2 capture system] uses a unique process incorporating a chemical reaction that consumes the CO2 and produces excess hydrogen. This excess hydrogen is converted into clean renewable electricity via a universal fuel cell and the produced electricity can be fed back into the local electric grid or used to create a renewable microgrid for local power distribution via a universal fuel cell to power the gas/truck stop facility at which the PowerTap unit is located."

Majors Making Moves

Clean Power and PowerTap are quickly prepping for a tsunami of expected demand illustrated by Toyota's new universal fuel cell, which makes it much easier for hydrogen vehicle OEMs to launch new hydrogen-powered cars, trucks, boats, motorbikes and virtually anything else previously powered by fossil fuels. In addition to its effort to popularize fuel cell-powered EVs, Toyota intends to continue to strengthen its initiatives as a fuel cell system supplier to promote hydrogen utilization. Toyota launched a 2021 hydrogen powered Mirai and is nearing production of next-generation fuel cell electric technology for zero-emissions heavy duty trucks using the same fuel cell system.

Toyota isn't alone — Hyundai, Honda, and BMW either make or plan hydrogen-powered cars, and Hyundai, Nikola Motors, Volvo and Daimler have announced plans to manufacture trucks. PowerTap intends to fuel these vehicles and all those that follow.

This is just the beginning of what will likely be strong consumer demand, especially from the trucking industry where the economics have potential to impact bottom lines. Diesel long-haul trucks have an 812-mile range, a 15- to 30-minute fueling time and cost 33.44 cents per mile to operate; the same truck with an electric battery has a 400-mile range, takes up to eight hours to charge and costs 37.5 cents per mile. By contrast, a Class 8 hydrogen-powered truck has a 900-mile range, takes 15 to 30 minutes to refuel, and costs only 15 cents per mile to operate. Consider that U.S. truckers drive an estimated 140 billion miles every year, and it's easy to see why hydrogen-powered heavy duty trucks are coming to market.

Market timing couldn't be better for PowerTap's Gen3 modular blue hydrogen production and dispensing unit. As ever more hydrogen vehicles come to market, the opportunities for PowerTap and Clean Power could grow exponentially.

"PowerTap's patented, onsite blue hydrogen-generating fuel station technology is the right solution for today's lack of hydrogen fueling infrastructure," said PowerTap COO Kelley Owen. "PowerTap plans to roll out hydrogen fueling stations to meet the USA's public hydrogen fueling station increased demand. Our new modular design will allow us to deploy our stations rapidly starting in 2021."

And this is just the start. With its patented state-of-the-art technology and access to capital in place through Clean Power, PowerTap fully intends to build the largest, most functional and profitable hydrogen fueling station network across all of North America.

Hydrogen Apostles

Toyota Motor Corporation (NYSE: TM) engages in the manufacture and sale of motor vehicles and parts. It operates through automotive financial services and other segments. The company recently revealed it has developed and plans to sell a product that packages a fuel cell system into a compact module. Integrating the main components of a fuel cell will make it easily adaptable for rapid development.

Plug Power Inc. (NASDAQ: PLUG) is credited for creating the first commercially market for hydrogen fuel cell technology and is building the hydrogen economy as a leading provider of comprehensive hydrogen fuel cell turnkey solutions. The company's innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.

ITM Power Plc (OTC: ITMPF) manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. The company is a recognized expert in hydrogen technologies with the overarching principle to take excess energy from the power network, convert it into hydrogen and use it in one of three broad market areas: mobility, power-to-X and industry.

Nel ASA (OTC: NLLSF) is a Norwegian-based hydrogen company dedicated to delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen and providing all fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles  — without emissions.

The world is fast moving away from fossil fuels, and hydrogen looks to play an important part. Clean and abundant, hydrogen power is gaining favor, and as the crescendo builds, insightful investors take notice.

For more information on Clean Power Capital Corp., please visit Clean Power Capital Corp.

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